1,045 Shares in RenaissanceRe Holdings Ltd. (NYSE:RNR) Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC purchased a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,045 shares of the insurance provider’s stock, valued at approximately $229,000.

A number of other institutional investors have also added to or reduced their stakes in RNR. CWM LLC raised its stake in RenaissanceRe by 8.7% during the 1st quarter. CWM LLC now owns 610 shares of the insurance provider’s stock worth $143,000 after buying an additional 49 shares during the period. Los Angeles Capital Management LLC bought a new stake in RenaissanceRe during the 1st quarter worth approximately $553,000. GAMMA Investing LLC increased its holdings in RenaissanceRe by 52.9% during the 1st quarter. GAMMA Investing LLC now owns 289 shares of the insurance provider’s stock worth $68,000 after purchasing an additional 100 shares in the last quarter. Mather Group LLC. bought a new stake in RenaissanceRe during the 1st quarter worth approximately $34,000. Finally, Range Financial Group LLC bought a new stake in RenaissanceRe during the 1st quarter worth approximately $677,000. 99.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction on Friday, October 4th. The stock was sold at an average price of $279.00, for a total transaction of $279,000.00. Following the completion of the sale, the executive vice president now owns 82,044 shares of the company’s stock, valued at approximately $22,890,276. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $279.00, for a total transaction of $279,000.00. Following the sale, the executive vice president now owns 82,044 shares in the company, valued at $22,890,276. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Robert Qutub sold 2,500 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $224.56, for a total value of $561,400.00. Following the sale, the chief financial officer now owns 73,915 shares in the company, valued at $16,598,352.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,500 shares of company stock worth $1,109,400 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

RenaissanceRe Price Performance

RenaissanceRe stock opened at $282.60 on Friday. The company has a market cap of $14.74 billion, a price-to-earnings ratio of 5.59, a PEG ratio of 1.83 and a beta of 0.38. The business’s 50 day simple moving average is $260.37 and its 200 day simple moving average is $236.71. RenaissanceRe Holdings Ltd. has a 12 month low of $188.24 and a 12 month high of $283.86. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Wednesday, July 24th. The insurance provider reported $12.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.88 by $1.53. The firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.93 billion. RenaissanceRe had a return on equity of 27.74% and a net margin of 25.38%. Sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 39.84 EPS for the current year.

RenaissanceRe Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.55%. RenaissanceRe’s dividend payout ratio is currently 3.08%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Citigroup boosted their price objective on RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. boosted their price objective on RenaissanceRe from $267.00 to $274.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Wells Fargo & Company boosted their price objective on RenaissanceRe from $280.00 to $314.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. UBS Group reduced their target price on RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Finally, Barclays started coverage on RenaissanceRe in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $289.00.

About RenaissanceRe

RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance and excess of loss reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, binding facilities, and regional U.S.